Should You Give Children Cash For Christmas?
by Connie BrooksOne of our readers, TStrump, left this comment:
My nephew is 12-yrs old and he is already asking for cash as gifts – Christmas, birthdays – all the time. I’m concerned he is learning the wrong things about money, already.
Not sure how to deal with this … basically, when he asks, I just say NO.
I thought that was such a wonderful comment. What do you do when a child asks you for money as a present?
Do you think it’s a reflection of greed? As in “Nothing you could buy me would be what I want, and at least if you give me money I can buy what I really want?”
It takes all the thought that went into your gift and throws it right out the window. At least from my point of view. Still, I know some people do not mind and are happy to give cash to adults and children.
Personally, I don’t because I always end up spending far more than I normally would if I give a person cash. When I shop for normal items I take my time, and usually try to get them on clearance, or at least with a discount. With cash, the person suddenly knows how much the gift cost, and that can be judged very quickly.
I don’t give gift cards for that reason either. I would rather put my time and caring into picking out a gift that I hope the person will love! Still though. Ever Christmas my grandmother gives me an envelope with cash, and I always look forward to it! So it’s a double edged issue for me.
What do you think? Would you rather receive cash as a gift for Christmas? Do you give cash presents to others? Tell me about it below? I would love to know what you think!
There were some excellent articles this week around the blog-o-sphere, and I wanted to share the best ones with you. I hope you find a few here that you enjoy!
‘Tis The Season:
- Being Frugal came up with 50 Frugal Christmas Ideas! This gets my pick of the day – don’t miss it!
- Prime Time Money has 5 Gifts That Will Bring Your Family Together This Christmas. I loved these ideas!
- Money Ning has Frugal Activities for the Christmas Holiday Month of December
- The Simple Dollar talks about The Expensive Ups and Downs of Christmas.
- Get Rich Slowly has their Personal-Finance Gift Guide for 2008 up. Lost of great pf books on this list!
Economic Musings:
- Four Pillars has some musings on The Great American Car Company Bailout
- Five Cent Nickel has a wonderful article on the Income Tax Breaks in the Bailout Bill
- Money Smart Life has an article on how to Save Money at Restaurants – Tips for Spending Less When Eating Out.
- The Financial Philosopher has an article on the state of investments next year called “Nary Quite Contrary… 2009” I’ve you’ve never given Kent’s blog a visit, be sure to check it out!
- The Smart Spending Blog says yes, Wal-Mart really is that huge
Assorted Sundries and Deals:
- Money Saving Methods has several can’t miss deals like the NEW $50 Sharebuilder Bonus and how to get a free Entertainment book.
- Gather Little by Little wonders, “What’s the Dillyeo?” Dillyeo is a new deal linker where you can find some great bargains!
- Taking Charge gives us the lowdown on a new service in “Give Real unveils drinking 2.0“. This isn’t a freebie so much as a neat way to buy your long-distance friends and family a drink!
Carnivals, Festivals, and Celebrations:
- Carnival of Personal Finance #182 – Don’t Go Broke Over The Holidays Edition @ Free From Broke
- 42nd money hacks carnival: laid-off and freelancing edition @ The Financial Wellness Project
- Festival of Frugality #155: The Chic-Tacky Christmas Edition @ Greener Pastures
- Carnival of Money Stories Edition No. 88 @ The Dough Roller
- Carnival of Debt Reduction #169 @ Four Pillars
That’s it for this weekend’s link roundup! If you’re new here we’d like to invite you to pick up our RSS feed. Thanks for stopping by!
December 13th, 2008 at 18:07
I love cash. I think it’s great for kids. Other than that, I’d opt for a more specific consumable gift: movie or restaurant gift card maybe?
Thanks for sharing my article!
December 14th, 2008 at 00:35
I think it depends on the kid. If he’s snotty and says to give him cash then maybe not but if he’s tough to shop for then maybe cash is ok. And what will the kid do with the cash. If I knew the kid was responsible and try to save it then I wouldn’t mind so much. I think cash is usually less personal but as I said I think it depends.
Thanks for linking back to the Carnival of Personal Finance!
December 14th, 2008 at 03:20
Thanks for the link backs.
In regards to cash, I do sometimes give money…but only if I can get free money.
For example, we used the $50 Sharebuilder accounts to set up for our kids and get the free $50 for each of them.
We then give them the money ( which we got free for their accounts ), BUT we use this money as life learners.
We always help them divide it out when thet get it. We take out what the need for church ( they have their own little envelopes ) so they can put it in the basket on Sunday. They love throwing their money in ( at this age, anyway ).
Then, we take out the appropriate amount for saving…which we take to their bank and they get to talk to the teller and deposit it. I explain it will be there when they need it someday.
Then, they get the remaining to spend on something fun.
It is so important to teach kids to give and to budget/save from the time they are young in this “spend, spend” society so it becomes a mind set as they become adults.
December 15th, 2008 at 19:18
He’s actually a great kid and let’s face it, giving cash is really easy.
My biggest concern is that he is judging people based on the size of their gift.
Anyways, I will monitor the situation … thankfully, ‘No’ is one of my favourite words!